Real Estate Developers In Ohio Drop ‘Blockchain Hub’ Plan
Real estate developers in Ohio have given up with the idea to turn a shopping mall into a hub focused on the blockchain after it was made known that the public wasn't interested.
The Next Web reported that the developers are not so keen after seeing 'public opinion,' instead of thinking about turning the mall into an entrepreneurship center complete with a few shops.
The shopping mall, located in Cleveland, Ohio, was to be called "Tower City." It was planned to be a blockchain hub and a tech-focused development. However, that idea was scrapped, following an instance where one of the people behind the developers, Bernie Moreno, heard the feedback coming from the people.
In an interview on Monday, Moreno said that the shift was from blockchain to another focus of the development entirely. He said that, as the company heard what the people wanted, they decided to slowly but surely renew the focus of the project from just being targeted on making a hub dedicated solely to blockchain and related technologies.
Cleveland.com reported that plans for the "City Block" were announced in an attempt to make Cleveland another possible tech hub for blockchain and digital currency firms.
The center for entrepreneurship won after the feedback from the people arrived. It was a broader tech hub that the community wanted, not one that focused firmly on the blockchain.
When asked about what will happen with the tech hub initiative, Moreno answered that it would, instead, make "Tower City" into an annual site for a conference on the technology.
He further explained that it would be helpful to instead turn Cleveland the site for annual conferences geared towards the exploration of blockchain technology.
The remodeling of the "City Block" is not yet finalized, at all. According to reports, a deal with Bedrock-a Detroit-based real estate firm with ties to Cleveland's Dan Gilbert-is not yet finalized. Blockland Cleveland will instead try and find more investors and tenants to commit to the project before moving forward on a deal with Bedrock.
The yearly blockchain conference will turn out to be the only ties that "Tower City" will have to the blockchain. It's already a good move if any. Blockchain is experiencing a good year and more hubs have been dedicated towards startups exploring the technology. Just a yearly conference will already go a long way toward introducing the technology into cities like Ohio.